Market Size of Italy Luxury Residential Real Estate Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Italy Luxury Residential Real Estate Market Analysis
During the time frame of the forecast, the luxury residential real estate market in Italy is expected to register a CAGR of more than 5%.
- COVID-19's impact was severe on the market. The house prices in the Mediterranean country decreased by 2.6 percent, with a potential decrease of up to 4 percent. Despite the pandemic crisis, luxury residential real estate in the country currently, is in the recovery phase, as sales in the country quickly bounced back to pre-pandemic levels.
- Italian magazines did a study that shows the demand for high-end homes has gone up by almost 50% since 2019. One of COVID-19's numerous legacies appeared to be upscale housing that fulfilled contemporary living requirements. In the last couple of years, the public's buying interests and choices have changed, and there has been a trend toward putting more emphasis on luxury living spaces.
- Residential is the biggest part of Italy's real estate market, making up more than half of all sales in 2020. Most Italians live in homes they own, and houses or apartments are seen as important and safe investments, so it shouldn't be a surprise that the luxury residential market is quite active.
Q1 2022 marked the start of the biggest urban regeneration project in Italy. It will host over 50,000 people every day, including residents, city users, and visitors, which will boost the luxury residential real estate market in the region. Also, Rome is back in the arena, and quarterly investment stood at 13% of the total, higher than 8% of the whole of 2021.
